Examlex
The _____ is to reality as the _____ is to morality.
Raw Materials Inventory
Stock of materials that are to be used in the production of goods, not yet processed or incorporated into finished products.
Raw Materials
Raw Materials are the basic substances or components that are converted through manufacturing processes into finished goods.
Raw Materials Inventory
Items and supplies held in stock that are used in the manufacturing process to create finished goods.
Materials Quantity Variance
This variance measures the difference between the actual quantity of material used in production and the standard quantity allowed, multiplied by the standard cost per unit of material.
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